Latest news with #SarahColes
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Scotsman
3 days ago
- Business
- Scotsman
NS&I: new one-year bonds offer higher rates
Safe, simple, and fully protected — but are NS&I's new bonds worth locking your cash away for? 💷 Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... NS&I has increased its one-year British Savings Bond rate to 4.18% AER Bonds offer guaranteed interest but no prize draws like Premium Bonds Money is fully protected by the government up to £1 million per person Rates remain lower than some top fixed-rate bonds on the market Ideal for savers seeking safety and steady returns without risk While Premium Bonds give savers the thrill of monthly prize draws, NS&I's latest savings product offers something simpler: certainty. The government-backed savings provider has just relaunched its one-year British Savings Bonds – available as either Guaranteed Growth or Guaranteed Income Bonds – with a better interest rate of 4.18% AER. Advertisement Hide Ad Advertisement Hide Ad Bonds are a type of savings product where you lend money to a government or company for a set period of time, and in return, they agree to pay you interest. At the end of the term, you get your original money back. That's a small increase from the previous 4.05%, and it comes as many other savings providers are starting to lower their fixed-rate offers. So, are these bonds a hidden gem – or are there better ways to grow your money? (Photo: PAUL ELLIS/AFP via Getty Images) | AFP via Getty Images Can you win prizes with one-year British Savings Bonds? Unlike NS&I's flagship Premium Bonds, where you could win up to £1 million in monthly tax-free prizes but earn no interest, these new one-year bonds offer guaranteed returns – but no chance of a prize windfall. They're ideal for those who want stability over surprise, particularly as the wider market anticipates further base rate cuts by the Bank of England later this year. Advertisement Hide Ad Advertisement Hide Ad 'NS&I has bucked the trend in a falling market,' says Sarah Coles, head of personal finance at Hargreaves Lansdown. 'Elsewhere, rates are dropping – so this small bump stands out.' So if you're after thrills and tax-free prizes, Premium Bonds are still the place to dream big. But if steady growth with zero risk is more your style, NS&I's new bonds might be the safe harbour you're looking for. Are one-year British Savings Bonds worth it? Bonds are a way to save money by locking it away for a set period. You lend your money to a government or company, and in return, they pay you interest. When the term ends, you get your money back. Advertisement Hide Ad Advertisement Hide Ad With NS&I's bonds, your money is locked away for a fixed time, and you earn a guaranteed return. The one-year British Savings Bonds are available as either Guaranteed Growth - where interest is paid at the end of the one-year term - or Guaranteed Income Bonds, where interest is paid monthly into your bank account. At 4.18%, the new one-year rate still lags behind top-paying fixed-rate bonds on the market, which can offer upwards of 4.5% AER. But NS&I has one trump card: 100% Treasury-backed protection. That means your money is fully safe up to £1 million per person - you'll need to invest a minimum of £500 - far above the £85,000 cap offered by most banks under the FSCS. Advertisement Hide Ad Advertisement Hide Ad 'For some savers, that government-backing is the main draw,' says Laura Suter of AJ Bell. 'It removes the hassle of spreading money across banks.' NS&I's move is seen as a tactical one – an attempt to keep existing customers on board as their previous bonds mature, while drawing in new savers with its trademark security. But it's unlikely to spark a stampede. The current offer is a far cry from the 6.2% rates available on similar NS&I bonds just two years ago – a figure described by Suter as 'a relic from another era.' If you're after peace of mind and don't want to shop around or worry about FSCS limits, these bonds might tick your boxes. But if maximising returns is your priority – and you're willing to accept a bit more risk – better rates are still out there. Advertisement Hide Ad Advertisement Hide Ad Are you struggling to make ends meet as costs continue to rise? You can now send your stories to us online via YourWorld at It's free to use and, once checked, your story will appear on our website and, space allowing, in our newspapers.
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Scotsman
3 days ago
- Business
- Scotsman
NS&I: new one-year bonds offer higher rates
Safe, simple, and fully protected — but are NS&I's new bonds worth locking your cash away for? 💷 Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... NS&I has increased its one-year British Savings Bond rate to 4.18% AER Bonds offer guaranteed interest but no prize draws like Premium Bonds Money is fully protected by the government up to £1 million per person Rates remain lower than some top fixed-rate bonds on the market Ideal for savers seeking safety and steady returns without risk While Premium Bonds give savers the thrill of monthly prize draws, NS&I's latest savings product offers something simpler: certainty. The government-backed savings provider has just relaunched its one-year British Savings Bonds – available as either Guaranteed Growth or Guaranteed Income Bonds – with a better interest rate of 4.18% AER. Advertisement Hide Ad Advertisement Hide Ad Bonds are a type of savings product where you lend money to a government or company for a set period of time, and in return, they agree to pay you interest. At the end of the term, you get your original money back. That's a small increase from the previous 4.05%, and it comes as many other savings providers are starting to lower their fixed-rate offers. So, are these bonds a hidden gem – or are there better ways to grow your money? (Photo: PAUL ELLIS/AFP via Getty Images) | AFP via Getty Images Can you win prizes with one-year British Savings Bonds? Unlike NS&I's flagship Premium Bonds, where you could win up to £1 million in monthly tax-free prizes but earn no interest, these new one-year bonds offer guaranteed returns – but no chance of a prize windfall. They're ideal for those who want stability over surprise, particularly as the wider market anticipates further base rate cuts by the Bank of England later this year. Advertisement Hide Ad Advertisement Hide Ad 'NS&I has bucked the trend in a falling market,' says Sarah Coles, head of personal finance at Hargreaves Lansdown. 'Elsewhere, rates are dropping – so this small bump stands out.' So if you're after thrills and tax-free prizes, Premium Bonds are still the place to dream big. But if steady growth with zero risk is more your style, NS&I's new bonds might be the safe harbour you're looking for. Are one-year British Savings Bonds worth it? Bonds are a way to save money by locking it away for a set period. You lend your money to a government or company, and in return, they pay you interest. When the term ends, you get your money back. Advertisement Hide Ad Advertisement Hide Ad With NS&I's bonds, your money is locked away for a fixed time, and you earn a guaranteed return. The one-year British Savings Bonds are available as either Guaranteed Growth - where interest is paid at the end of the one-year term - or Guaranteed Income Bonds, where interest is paid monthly into your bank account. At 4.18%, the new one-year rate still lags behind top-paying fixed-rate bonds on the market, which can offer upwards of 4.5% AER. But NS&I has one trump card: 100% Treasury-backed protection. That means your money is fully safe up to £1 million per person - you'll need to invest a minimum of £500 - far above the £85,000 cap offered by most banks under the FSCS. Advertisement Hide Ad Advertisement Hide Ad 'For some savers, that government-backing is the main draw,' says Laura Suter of AJ Bell. 'It removes the hassle of spreading money across banks.' NS&I's move is seen as a tactical one – an attempt to keep existing customers on board as their previous bonds mature, while drawing in new savers with its trademark security. But it's unlikely to spark a stampede. The current offer is a far cry from the 6.2% rates available on similar NS&I bonds just two years ago – a figure described by Suter as 'a relic from another era.' If you're after peace of mind and don't want to shop around or worry about FSCS limits, these bonds might tick your boxes. But if maximising returns is your priority – and you're willing to accept a bit more risk – better rates are still out there. Advertisement Hide Ad Advertisement Hide Ad
Daily Record
7 days ago
- Business
- Daily Record
NS&I launches new one-year British Savings Bonds offering higher interest rates
NS&I is backed by the Treasury, so money held with it has 100 per cent security. Savings giant NS&I has launched new versions of its one-year British Savings Bonds with increased interest rates. One finance expert described the move as bucking 'the trend in a falling market'. British Savings Bonds are fixed-term issues of NS&I's Guaranteed Growth Bonds and Guaranteed Income Bonds. They are available to new customers and those with existing bonds which are due to mature. The new rate for the one-year Growth and Income options is 4.18 per cent AER (annual equivalent rate), the previous rate was 4.05 per cent AER. NS&I is backed by the Treasury, so money held with it has 100 per cent security. Andrew Westhead, NS&I retail director, said: 'I am pleased that we can offer savers - both new and those with our existing one-year bonds which are about to mature - this new opportunity to save. 'In launching this new issue, NS&I continues to balance the interests of its savers, taxpayers and the broader financial services sector - and to work towards its annual net financing target.' Guaranteed Growth Bonds and Guaranteed Income Bonds are available to customers wanting a guaranteed rate for a fixed-term of one, two, three or five years. Funds cannot be withdrawn early with fixed-term accounts. Savers need a minimum investment of £500 and can invest a maximum of £1 million per person in each issue. After the fixed-term period, savers have the choice to withdraw their cash or reinvest into a new term. Guaranteed Growth Bonds are a lump sum investment that earns a fixed rate of interest over a set period. Interest is added to the bond on each anniversary of the investment. Guaranteed Income Bonds are a lump sum investment that pays out monthly income at a fixed rate of interest over a set period. Earlier in July, NS&I launched some new versions of its two, three and five-year British Savings Bonds with lower rates than previously offered. It also lowered the rate on a Junior Isa from July 18, from 4.00 per cent to 3.55 per cent. Many commentators expect the Bank of England base rate to be cut further this year, which could be a further blow to savers. Sarah Coles, head of personal finance at Hargreaves Lansdown, said: 'NS&I has bucked the trend in a falling market and boosted the rate on its one-year bonds. 'Elsewhere, savings have been gradually dropping across the board. Fixed terms have generally held up slightly better than easy access accounts, but they're still trending downwards. 'NS&I itself cut the rate on its bonds fixed for two, three and five years earlier this month – along with cuts to the Premium Bond prize rate in August. 'It's not worth getting too excited about though. The one-year bond went back on sale in April this year, and the rate at the time was a dismal 4.05%. 'NS&I has to offer a rate somewhere in the middle of the pack, so it doesn't tend to be market leading, but clearly at this rate it wasn't pulling in enough cash. 'The rise today still leaves it well behind the market leaders - which offer more than 4.5 per cent - but it will be hoping it has done enough to retain savers with maturing one-year bonds and to attract new cash.' Laura Suter, director of personal finance at AJ Bell, said: 'The rate on offer is a far cry from the original one-year British Savings Bond that launched two years ago which proved to be a sell-out success, being pulled from sale after just five weeks. 'But back then savers were offered a generous 6.2% – a rate that now looks like a relic from another era. With interest rates edging down and other providers trimming their fixed-rate deals, NS&I has clearly tried to find a middle ground that will be attractive enough to draw in some money but not so generous that it's swamped by demand. 'For some savers, the government-backing of NS&I will be the main draw. With full protection on deposits up to £1 million, it removes the hassle of having to split savings across multiple banks to stay under the FSCS (Financial Services Compensation Scheme) limit of £85,000. 'But for others, that safety net comes at a cost. You can get better returns elsewhere if you're willing to forgo the government guarantee.'
Scotsman
24-07-2025
- Business
- Scotsman
Premium Bonds: UK checker as unclaimed prizes top £100m
Thousands have already been reunited with lost cash 🕵️♂️ Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Over £103 million in Premium Bond prizes remain unclaimed across the UK 2.5 million prizes, including 11 worth £100,000, are yet to be claimed Many miss out after moving house or forgetting old accounts There's no time limit – prizes can be claimed even decades later NS&I urges people to check using its app, website, or tracing service More than £103 million in Premium Bond prizes is currently unclaimed, according to the latest data from NS&I. With over 2.5 million prizes still waiting to be claimed, thousands of people across the UK could be sitting on a life-changing windfall without realising it. Advertisement Hide Ad Advertisement Hide Ad Among the forgotten prizes are, 11 worth £100,000, 19 worth £50,000, 38 worth £25,000, and 75 worth £10,000. The prize pot contains millions in uncollected cash that could be waiting for you. 'Eleven people in the UK have £100,000 with their name on it, just sitting, collecting dust,' said Sarah Coles, head of personal finance at Hargreaves Lansdown. 'It's worth checking whether you've already won big.' (Photos: Pexels/Getty Images) | Pexels/Getty Images Unclaimed prizes are often the result of people moving house and forgetting to update their contact details. Sometimes, accounts are set up for children or grandchildren and simply forgotten about over time. Others might not realise they've won because they still receive paper notifications or haven't checked their account in years. Advertisement Hide Ad Advertisement Hide Ad Andrew Westhead, NS&I's retail director, said: 'These figures are a timely reminder to update your details, talk to your loved ones about your savings and make sure your money stays firmly in your hands, both now and in the future.' NS&I recently revealed it reunited more than £166 million with customers in 2024-25 through its tracing services – including over £120 million in Premium Bond prizes alone. How long do Premium Bond winners have to claim their prize? Unlike National Lottery wins, there's no time limit on claiming Premium Bond prizes. NS&I considers a prize 'unclaimed' after 18 months, but winners can come forward at any time, even decades later. Advertisement Hide Ad Advertisement Hide Ad Since 1957, NS&I has successfully paid out over 99% of all prizes – but the remaining 1% still adds up to a huge chunk of cash. How to check if you're a winner Here's how to check if you've got cash waiting for you: Use NS&I's prize checker app or website – You just need your holder number to search. – You just need your holder number to search. Update your contact details – Especially if you've moved house. – Especially if you've moved house. Switch to bank transfers – You can opt to have prizes automatically paid into your bank, or reinvested into more bonds. Nine in ten prizes are now paid this way. – You can opt to have prizes automatically paid into your bank, or reinvested into more bonds. Nine in ten prizes are now paid this way. Dig out old paperwork – Forgotten savings can sometimes be found in drawers, old files or among family documents. Use the My Lost Account service to trace anything you find. With millions left unclaimed – and no expiry date – it's well worth taking five minutes today to see if you're richer than you thought. Are you struggling to make ends meet as costs continue to rise? You can now send your stories to us online via YourWorld at It's free to use and, once checked, your story will appear on our website and, space allowing, in our newspapers.
Scotsman
24-07-2025
- Business
- Scotsman
Premium Bonds: UK checker as unclaimed prizes top £100m
Thousands have already been reunited with lost cash 🕵️♂️ Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Over £103 million in Premium Bond prizes remain unclaimed across the UK 2.5 million prizes, including 11 worth £100,000, are yet to be claimed Many miss out after moving house or forgetting old accounts There's no time limit – prizes can be claimed even decades later NS&I urges people to check using its app, website, or tracing service More than £103 million in Premium Bond prizes is currently unclaimed, according to the latest data from NS&I. With over 2.5 million prizes still waiting to be claimed, thousands of people across the UK could be sitting on a life-changing windfall without realising it. Advertisement Hide Ad Advertisement Hide Ad Among the forgotten prizes are, 11 worth £100,000, 19 worth £50,000, 38 worth £25,000, and 75 worth £10,000. The prize pot contains millions in uncollected cash that could be waiting for you. 'Eleven people in the UK have £100,000 with their name on it, just sitting, collecting dust,' said Sarah Coles, head of personal finance at Hargreaves Lansdown. 'It's worth checking whether you've already won big.' (Photos: Pexels/Getty Images) | Pexels/Getty Images Unclaimed prizes are often the result of people moving house and forgetting to update their contact details. Sometimes, accounts are set up for children or grandchildren and simply forgotten about over time. Others might not realise they've won because they still receive paper notifications or haven't checked their account in years. Advertisement Hide Ad Advertisement Hide Ad Andrew Westhead, NS&I's retail director, said: 'These figures are a timely reminder to update your details, talk to your loved ones about your savings and make sure your money stays firmly in your hands, both now and in the future.' NS&I recently revealed it reunited more than £166 million with customers in 2024-25 through its tracing services – including over £120 million in Premium Bond prizes alone. How long do Premium Bond winners have to claim their prize? Unlike National Lottery wins, there's no time limit on claiming Premium Bond prizes. NS&I considers a prize 'unclaimed' after 18 months, but winners can come forward at any time, even decades later. Advertisement Hide Ad Advertisement Hide Ad Since 1957, NS&I has successfully paid out over 99% of all prizes – but the remaining 1% still adds up to a huge chunk of cash. How to check if you're a winner Here's how to check if you've got cash waiting for you: Use NS&I's prize checker app or website – You just need your holder number to search. – You just need your holder number to search. Update your contact details – Especially if you've moved house. – Especially if you've moved house. Switch to bank transfers – You can opt to have prizes automatically paid into your bank, or reinvested into more bonds. Nine in ten prizes are now paid this way. – You can opt to have prizes automatically paid into your bank, or reinvested into more bonds. Nine in ten prizes are now paid this way. Dig out old paperwork – Forgotten savings can sometimes be found in drawers, old files or among family documents. Use the My Lost Account service to trace anything you find. With millions left unclaimed – and no expiry date – it's well worth taking five minutes today to see if you're richer than you thought.
